So is a preferred bidder someone who the administrators really want to bid for SWFC because as far as I know (which is nothing really) no bids are in yet. If this is correct then the preferred bidder may not offer enough to satisfy the administrators. I would have thought the best way would be ask all the ones who will still be in the hat on the 21st November to put a bid in, then select from that pool who they want to buy the club.